August 14, 2007
Brazil meat exports heat up; shipments nearly equal to soy
Brazilian meat exports in the first seven months of 2007 have grown to US$6.1 billion, approaching the level of the country's top agribusiness export product, soy, at US$6.7 billion, the Agricultural Ministry said Monday (August 13).
"Soy - soymeal, soyoil and soybeans - has been the leading item on Brazil's export list since 1989, when the list originated," the ministry said in a statement. "But with the constant growth of meat exports in the last six years, meat threatens to take first place in the list of agribusiness exports."
Brazil is the world's leading beef and chicken exporter.
In the first seven months of this year, the country's meat exports by revenue soared around 38 percent from the US$4.45 billion registered in the year-ago period.
However, export revenues for soy products rose only about 18 percent from the US$5.7 billion registered in the first seven months of 2006.
The revenue growth of the meat sector helped push Brazil's agribusiness sector in July to a record US$5.27 billion, the highest ever recorded per month since the series began, the Agricultural Ministry said.
This record was set despite a falling US dollar against the Brazilian real, which has strengthened this year to around seven-year highs against the greenback.
From January to July, the country's agribusiness exports hit a total of some US$32 billion, up 20.5 percent from the same year-ago period.
Agribusiness exports from January to July have accounted for 36.7 percent of Brazil's total export revenues, up slightly from a 35.6 percent share in the same period in 2006, the ministry said.
Brazil is a leading global agricultural producer and exporter of soybeans, sugar, ethanol, coffee and orange juice, among other items.
The paper and pulp industry, wood products and tobacco are included in the country's agribusiness sector.
Between 2000 and 2006, Brazilian agribusiness export revenues more than doubled to $49.4 billion from $20.6 billion.
